Hydro One (TSE:H) Hits New 1-Year High – What’s Next?

Hydro One Limited (TSE:H)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as C$48.20 and last traded at C$47.89, with a volume of 48384 shares. The stock had previously closed at C$47.90.

Analyst Ratings Changes

H has been the subject of several recent analyst reports. Scotiabank boosted their price target on Hydro One from C$45.00 to C$46.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. CIBC upped their price objective on Hydro One from C$45.00 to C$46.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their price objective on Hydro One from C$43.00 to C$46.00 in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$45.43.

Hydro One Stock Performance

The stock has a market cap of C$28.64 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 3.17 and a beta of 0.34. The company has a quick ratio of 0.30, a current ratio of 0.58 and a debt-to-equity ratio of 140.53. The business has a 50 day moving average price of C$44.99 and a two-hundred day moving average price of C$45.17.

Hydro One Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be paid a dividend of $0.3142 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change from Hydro One’s previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a yield of 2.63%. Hydro One’s dividend payout ratio is presently 66.44%.

Insider Activity at Hydro One

In related news, Director Stacey Mowbray bought 700 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of C$44.03 per share, for a total transaction of C$30,818.20. Following the acquisition, the director now owns 700 shares in the company, valued at C$30,818.20. This trade represents a ∞ increase in their ownership of the stock. 47.12% of the stock is owned by corporate insiders.

Hydro One Company Profile

Hydro One operates regulated transmission and distribution assets in Ontario. The area’s largest electricity provider serves nearly 1.5 million customers. Transmission accounts for roughly 60% of the company’s rate base, with distribution accounting for the remainder. Hydro One operates a small telecom business, Acronym Solutions, with annual revenue contributing less than 1% to consolidated results.